At the end of January we called time on the Better Place electric car scheme.
But the optimists at ActewAGL and in the ACT Government remained in pollyanna mode (at least in public) today the ABC confirms the money and the dream have indeed gone.
ActewAGL was one of the initial investors in the project, putting in $2 million.
It also had a $60 million, 10-year contract with Better Place to supply electricity for the Canberra network.
Weekly NewsletterEvery Thursday afternoon, we package up the most-read and trending RiotACT stories of the past seven days and deliver straight to your inbox..
Last month it was revealed Better Place was shifting its short-term focus away from Australia which would have delayed the project.
But now Better Place has announced it is winding up its Australian operations.
ActewAGL CEO Michael Costello says it is a disappointing development and his company is unlikely to see a return on its investment.
“We’re going to take stock of where we stand now and see we what we do next. But it won’t just be us. We’ll be talking to the government and we’ll be talking to other players,” he said.
“There are a lot of other people interested in this in Canberra. But it will be progress over the coming years. We don’t intend to back off.”
Anyone up for explaining the math on how 16 recharge points could have used $60 million in ‘leccy over ten years?